OfflineThere are clients right now that are asking the bank to finance the entire transaction. A client who contacted an REO for a mutli plex got the bank to accept less than was due by almost 50% then asked the bank to take back financing at 100%. The bank did it. Yea.. that is great.
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If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
We know that banks do not want to be real estate owners. They lose money in foreclosures. Now they have a bad reputation. Now I have seen banks be flexible and willing to work with me if I can help solve a problem for them. Wow! (I already have good credit/relationship with my local banks).
Andrew
"Be very careful, then, how you live- not as unwise, but as wise, making the most out of every opportunity..." Apostle Paul writing to the church in Ephesus
The government will be purchasing bad assets at 22 cents on the dollar. I wrote that right - 22 cents on the dollar. Suppose you offer 35 cents on the dollar? The bank would have just made an extra 13 cents on the dollar. Your offers are more and more valuable to the banks as this deprecion goes on.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Unless something has changed very recently, it's not clear that the govt will in fact be paying .22.
Also, the govt will be buying A LOT more assets at .22 than you would be buying at .35. Bulk sales.
Also, they will be buying notes/slices/tranches not actual properties so it's not an apples to oranges comparison.